NCDEX Turmeric April Weekly: Reversal Above 7176 Closing

Report For Date 26/03/2018

NCDEX Turmeric April Weekly: Reversal Above 7176 Closing

NCDEX Turmeric (Price are in INR (Rs)/Quintal)

Exit long and sell on rise from 6770-7108 with a stop loss of 7176.

Expect lower range of 6566-6024 to be tested.

Reversal can be seen if close is above 7176 at the end of the week with bullish candle.

Traders can buy towards weekly closing if prices are above 7176.

Breakout above 7176 can lead to a development of bullish pattern which may test 8066 and move strong beyond it.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY	CLOSE	DRV	TREND*	Trend Price	Trend Date	L1	L2	CP	L3	L4
-	6770.00	7089.33	DOWN	6966.0	23.02	6024	6566	6904	7108	7650

*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Positional Traders can hold long position with DRV as the closing stop loss and close >DRV. Traders can hold short position with DRV as the closing stop loss and close <DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

LAST CLOSE	PRICE G/L%	VOLUME	% V INC/DEC	OPEN INTEREST	% OI INC/DEC	CANDLE	POSITION
6678.0	-3.6	22585	42.5	7890	-5.8	Negative	Unwinding

TECHNICAL INDICATORS TABLE

RSI	1-ROC-RSI	STOCHASTIC	1-ROC STOCHASTIC	MACD	1-ROC MACD	RS	1-ROC RS
41.04	-8.26	41.24	31.38	-84.88	-40.90	42.35	4.55

Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.